Anixter International (AXE) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
Anixter International (NYSE:AXE) released its earnings data on Tuesday. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by $0.11, AnalystRatings.NET reports. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.64 billion.
Shares of Anixter International (NYSE:AXE) opened at 88.55 on Tuesday. Anixter International has a 52 week low of $54.80 and a 52 week high of $89.61. The stock has a 50-day moving average of $87.46 and a 200-day moving average of $79.64. The company has a market cap of $2.881 billion and a price-to-earnings ratio of 25.76.
In other Anixter International news, VP William Galvin unloaded 1,000 shares of Anixter International stock on the open market in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $87.42, for a total transaction of $87,420.00. Following the sale, the vice president now directly owns 46,328 shares in the company, valued at approximately $4,049,994. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AXE. Analysts at Robert W. Baird raised their price target on shares of Anixter International from $86.00 to $96.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. On a related note, analysts at Zacks upgraded shares of Anixter International from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $88.70 price target on the stock. Finally, analysts at William Blair downgraded shares of Anixter International from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 15th.
Anixter International Inc is engaged in the distribution of communications and security products, electrical wire and cable products, fasteners and small parts through Anixter Inc and its subsidiaries (NYSE:AXE).
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